In understanding the target market for MM’s new products, both qualitative and quantitative research methods are perceivably of great importance. The two research methods are different in their approach, but none is better than the other since they both serve vastly diverse purposes (Johnson & Christensen, 2000). Qualitative research describes an analysis technique that explores the pertinent occurrence in a way that it assesses the underlying opinions, reasons, and motivations. Quantitative research method, on the other hand, refers to the aspect of quantifying a problem in numerical data, which is then transformed into practical statistics (Yilmaz, 2013). The two research methods are therefore different because qualitative research explores the underlying facts about a situation, while quantitative research evaluates the situation from the point of using measurable data to understand it.
Apparently, based on their different approaches, both quantitative and qualitative research methods are uniquely advantageous and disadvantageous. The advantages of quantitative research method are entrenched in the idea that this method is more about deductive identification of the problem, which results in reliable, valid, and generalizable data (Ramona, 2011). Alternatively, this method is disadvantageous in that it is most effective under controlled conditions; specifically, because some topics are too vast and difficult to be quantified in numbers and this may lead to inconsistencies. Qualitative research method is advantageous in that it is richly descriptive; meaning that the issue in question is thoroughly analyzed (Patton, 2005). The disadvantages of this method are that it is not rigorous, and because the findings are not generalizable, they are easily disqualified.
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As of the above understanding of the two research methods, it is apparent that they can both be used in comprehending the possible target markets for MM’s new mobile phones. One, with qualitative research, it is very important in understanding the market segments; specifically, because of the thorough analysis of the market in terms of the potential customers and their tastes and preferences (Bryman, 2006). On the other hand, quantitative research is vital since it will help in quantifying the target markets. For instance, through quantitative research, there is the surety that the market segments can be analyzed in terms of numerical data such as the age of potential buyers as well as their buying power.
References
Bryman, A. (2006). Integrating quantitative and qualitative research: how is it done?. Qualitative research , 6 (1), 97-113.
Johnson, B., & Christensen, L. (2000). Educational research: Quantitative and qualitative approaches . Allyn & Bacon.
Patton, M. Q. (2005). Qualitative research. Encyclopedia of statistics in behavioral science .
Ramona, S. E. (2011). Advantages and disadvantages of quantitative and qualitative information risk approaches. Chinese Business Review , 10 (12).
Yilmaz, K. (2013). Comparison of quantitative and qualitative research traditions: Epistemological, theoretical, and methodological differences. European Journal of Education , 48 (2), 311-325.
